Time Warner Cable to Buy DukeNet Communications for $600M in Cash
Time Warner Cable Inc. (NYSE: TWC) today announced that it has entered
into a definitive agreement with Duke Energy Corporation and investment
funds managed by Alinda Capital Partners to buy DukeNet Communications,
LLC for $600 million in cash, including the repayment of debt.
DukeNet, based in Charlotte, N.C., is a regional fiber optic network
company serving customers in North Carolina and South Carolina, as well
as five other states in the Southeast. With a fiber optic network of
over 8,700 miles, DukeNet provides data and high-capacity bandwidth
services to wireless carrier, data center, government, and enterprise
customers. Duke Energy owns 50 percent of DukeNet. The Alinda investment
funds own the remaining 50 percent.